November 10, 2022 05:31 GMT
(Z2) Corrective Bounce
BOBL TECHS
- RES 4: 121.950 High Oct 4 and a reversal trigger
- RES 3: 121.010/330 High Oct 28 and a bull trigger / High Oct 5
- RES 2: 120.358 50-day EMA
- RES 1: 120.080 High Nov 2
- PRICE: 119.480 @ 05:12 GMT Nov 10
- SUP 1: 118.260 Low Nov 8
- SUP 2: 117.630 Low Oct 21 and the bear trigger
- SUP 3: 117.342 2.618 proj of the Aug 25 - Sep 1 - Sep 6 price swing
- SUP 4: 116.986 2.764 proj of the Aug 25 - Sep 1 - Sep 6 price swing
Bobl futures recovered Wednesday and price remains above this week’s lows. A bearish theme dominates and short-term gains are considered corrective. Furthermore, moving average studies are in a bear mode position highlighting the broader sentiment. Key short-term resistance is seen 120.358, the 50-day EMA. A clear break of this EMA is required to highlight a stronger reversal. The bear trigger is unchanged at 117.630, the Oct 21 low
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